November 1, 2019 @ 15:04 by Steven Hugill
A technology firm boss has resigned with immediate effect.
Rob Smith has stepped down as chief executive at Sedgefield’s Filtronic after five years with the company.
His departure comes after a challenging year for the NETPark-based business, which is known for making antennas and transceivers for the telecoms market.
The firm saw annual revenue and profits both fall amid difficulties led chiefly by consolidation in the US mobile network operator market.
Announcing his departure, Rob said the time had come to “seek fresh opportunities and hand the baton to someone else to take the company forward.”
He added: “I have greatly enjoyed my five years at Filtronic.
“It has been full of challenges with never a dull moment.
“However, having seen the company through a difficult past year and into clearer waters, I believe now is the time for me to seek fresh opportunities and to hand the baton over to someone else.”
Following Rob’s departure, chairman Reg Gott has taken over as executive chairman of the group while the business finds a replacement chief executive.
“The board would like to thank Rob for his support and dedication over the last five years, particularly during a very challenging last year for the company,” added Reg.
Filtronic is known for developing products such as its Morpheus and Orpheus transceivers, which were designed to increase the amount and quality of data that networks are able to carry.
It also previously secured a contract to supply high-frequency apparatus for an aerospace project.